John W. MacKay.
John W. MacKay is not only the youngest and the richest of that bonanza trio - Flood, Fair and MacKay [James C. Flood and James G. Fair] but immense wealth has not spoiled him. He is of
Irish birth, but came to this country before he was of age. When the gold fever
broke out he was one of the first to seek his fortune in that auriferous country
bordering on the Pacific, in California. Contrary to the general supposition
that his great wealth came through 'good luck,' let me say, it was only by
constant toil and slowly acquired experience that he learned how to tell a
non-paying lead from a bonanza. Several times he seemed about to strike the
long-looked for success only to find his brightest hopes dashed to the earth.
But these failures tempered him for the greater hardships that followed.
The famous "Comstock Lode" is situated among a vast accumulation of rocks and
deep canyons—the result of terrible volcanic eruptions at some remote period.
This mining district was discovered by two Germans in about 1852-3. Contrary to
the opinion expressed by other prospectors, these Germans saw silver in the
rejected ore. Both brothers suddenly dying, the claim fell to a store[52]keeper named
Comstock who sold out for a few thousand. Mr. MacKay's investment in the one
mine, the "Consolidated Virginia and California," has paid him unheard of
dividends. This mine produced in a period covering six years, from 1873, gold
and silver to the amount of over sixty-three millions of dollars. The combined
profits of the two mines were over seventy-three and one-half millions of
dollars. Mr. MacKay drifted to this lode, making his first 'hit' in 1863, and in
this section the bulk of his vast fortune was accumulated.
On the 25th of November, 1867, he concluded that he was able to support a
wife, and accordingly married the widow of an old friend (Dr. Thompson) who had
shared his varying fortune of former years when he little dreamed of the vast
wealth that awaited him. This lady is one of the best hands to help a man spend
a fabulous income, of which we are aware. She lives in Paris, where she gives
the most expensive of entertainments. When General Grant was in France he was
her guest. She supports a private railway carriage to use at her pleasure, and
it would almost exceed belief to describe the cost of her table service; in
fact, she lives in oriental splendor. On the other hand Mr. MacKay is decidedly
pronounced, personally, in favor of little show. He is far more at home in
Virginia City, where he may often be seen in a genuine mining costume, than at
his palatial home in Paris.
The ground had been known for years wherein his great wealth was found, but
it was pronounced worthless. Everything seemingly had to be contested;
confidence was lacking, and what confidence remained was daily agitated by
parties who were jealous rivals. The stock became almost worthless, and great
discontent was[53] manifest when, to make matters worse, a fire broke
out which burned the company's property and valuable machinery. Twelve hundred
feet of ground had to be slowly gone over in search for the right vein, at a
cost of $500,000. Amid great discouragement John W. MacKay led this apparently
forlorn hope to at last be crowned with the success he so richly deserved. He
now is estimated to be worth in the vicinity of $55,000,000, and although it may
seem a somewhat extravagant reward, it cannot be denied that this vast sum could
have been placed in far worse hands.
Both Mr. and Mrs. MacKay are very liberal toward charitable purposes. They
were especially complimented by Pope Leo XIII for their charitable deeds. As Mr.
MacKay is but about fifty years of age, it is hard to conjecture his possible
future. While many features in his career seem to justify the belief in "luck,"
still, to the close observer, it is manifest that had he not possessed great
endurance, and known no such thing as fail, the world would never have known of
John W. MacKay. Surely, great effort is the price of great success, always.
